On September 1, NCI rose 3.15% in regular trading, trading at HK$47.9/share, with turnover of HK$199 million. The rally was driven by the company's strong interim results and broader insurance sector valuation recovery momentum.
NCI disclosed its half-year report on August 26, reporting revenue of RMB 83.258 billion for the first half, up 18.9% year-over-year, and net profit attributable to shareholders of RMB 22.793 billion, surging 54% year-over-year, primarily driven by improved investment performance. The annualized total investment return reached 6.7%, up 80 basis points year-over-year, with total investment assets exceeding RMB 1.9 trillion. On the liability side, original insurance premium income rose 6.9% to RMB 129.57 billion, while long-term first-year regular premiums jumped 27.7% and new business value grew 11.9%. Notably, ten-year-and-above regular premiums surged 132.1%. The embedded value reached RMB 310.384 billion, up 7.8% from year-end. Meanwhile, J.P. Morgan increased its long position in NCI to 5.06% on August 21, signaling institutional confidence. The top five listed insurers collectively posted 78% growth in H1 net profit, with sector valuations still near historical lows.
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